Hot And Cold Therapy Packs Market Revenue To Surge Above $2,000.0 Million By 2030

By Author: Pramod Kumar
Total Articles: 97
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Furthermore, the market will demonstrate a CAGR of 7.7% from 2021 to 2030 (forecast period), as per the estimates of the market research company, P&S Intelligence. The major growth drivers of the market are the surging adoption of non-invasive and non-pharmaceutical pain management therapies, mushrooming population of geriatric people, rising incidence of orthopedic diseases, frequent product launches, and increasing occurrence of road accidents across the world.

As per the World Population Ageing 2020 report published by the United Nations Department of Economic and Social Affairs (UNDESA), the population of people aged 65 years or above will rise from 727 million in 2020 to more than 1.5 billion by 2050. Based on type, the market is divided into hot and cold therapy packs. Between these, the cold therapy packs category contributed higher revenue to the market between 2014 and 2020, and this trend is predicted to continue in the coming years as well.

This will be because of the rising preference of the people suffering from joint and bone pain for cold therapy packs over the hot ones. In addition, these ...
... packs are extensively used by athletes for reducing the inflammation and paid caused due to sports injuries. When application is taken into consideration, the hot and cold therapy packs market is classified into neuropathic pain, post-surgical pain, and sports injuries. Amongst these, the sports injuries category is predicted to exhibit the fastest growth in the market in the upcoming years.

This will be because of the fact that sportspersons usually prefer non-invasive pain relief treatment procedures for managing sports injuries. Geographically, North America was the largest hot and cold therapy packs market in the past. This was because of the huge requirement for these packs among older people, high incidence of orthopedic diseases, and surging number of road accidents and injuries in the region. The Asia-Pacific (APAC) region is expected to be the fastest-growing region in the hot and cold therapy packs market throughout the forecast period, mainly because of the rising incidence of orthopedic diseases and surging requirement for non-invasive pain management therapies in the region.

Thus, the market is set to prosper in the coming years, mainly because of the growing incidence of road accidents and sports injuries and the mushrooming population of geriatric people across the world.

Market Overview@ https://www.psmarketresearch.com/market-analysis/hot-cold-therapy-packs-market

Pramod has around 7 years of experience in market research and consulting services for healthcare industry. He holds varied experience in market sizing and forecasting with varied models, competition landscape, consumer behavior analysis, opportunity analysis, product/company benchmarking, data mining and others. He has successfully delivered multiple projects on go-to-market strategies, pricing strategy, price point analysis, Business Expansion, market entry and exit, share analysis and others. Prior to joining P&S Intelligence, he worked with different research companies, including Transparency Market Research and MarketsandMarkets Pvt Ltd. Some of the projects delivered by him include Scar Treatment Market, Skin Replacement and Substitutes Market, and Energy-Based Aesthetic Devices Market.